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China Has Become The World’s Largest Abrasive Consumer Market
The global consumption of abrasives will increase by 5.9 percent per year and will reach 48 billion by 2019. The first regions to achieve growth are Asia, the Middle East/Africa, Eastern Europe, and Latin America. The demand for abrasives in the four regions will exceed that of the United States, Japan, and Western Europe.
The consumption of abrasive tools is mainly due to the steady growth of the economy and the steady development of the industry, which leads to the continuous expansion of the production of durable consumer goods and the increase in investment in fixed assets. China, India, and Russia account for a large share of the sales of abrasives. In particular, China will replace the United States and become the world’s largest abrasives consumer market. It is estimated that by 2019, China’s consumption of abrasives will account for two-thirds of the global demand for new products. Today, the demand for China cutting disc for metal is also very large. Sales in Thailand and Indonesia in Southeast Asia will also show good growth. The development of the global abrasives market is not optimistic compared with developing countries, its economic growth is weak, and the growth of durable consumer goods production is slow. The demand for standard cut off wheel for metal in the US, Italy, and France is expected to grow by less than 1% by 2019, and the annual demand for standard cut off wheel for metal in Japan, Germany, and the UK will show a downward trend. Luo Baihui believes that the final result is that the per capita consumption of purchased abrasives will increase as the production costs of various products increase. Sales of abrasives in Canada, South Korea, and Spain are expected to grow steadily with the economy and demand will increase. In the industrialized regions, the industrial output of these three countries has been in a leading position.
The consumer demand for global abrasive tools is mainly non-metallic abrasive products, including fixed abrasives, coated abrasives, and abrasives, polishing powders, etc. It is expected that by 2019, the sales of non-metallic abrasives will occupy most of the market, which will exceed the sales of metal abrasives, such as shot peening, steel grit, wire brush and standard cut off wheel for metal. The consumer durables market is undoubtedly the largest sales target for abrasives, accounting for two-thirds of all abrasive products.